March housing construction falls 10.8 percent - Yahoo! Finance: "The Commerce Department said Thursday construction of new homes and apartments dropped by 10.8 percent last month to a seasonally adjusted annual rate of 510,000 units. That was the second lowest construction pace in records that go back 50 years.
The decline was worse than economists had expected and February activity was revised lower as well. That is more evidence that the steep slump in housing, which was a major factor triggering the current recession, has yet to run its course."
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Here in the Chicago area you can ask anybody in the housing industry and the answer is the same. Nothing is being built.
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